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Federal Home Loan Bank Of Cincinnati (1326771) SEC Filing 10-Q Quarterly report for the period ending Sunday, June 30, 2019

Federal Home Loan Bank Of Cincinnati

CIK: 1326771
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News Release
John Byczkowski, FHLB Cincinnati
FOR IMMEDIATE RELEASE
513.852.7085 (office) or 513.382.7615 (cell)
July 29, 2019
    
FHLB CINCINNATI ANNOUNCES SECOND QUARTER 2019 RESULTS

Cincinnati, Ohio – The Federal Home Loan Bank of Cincinnati (the FHLB) today released unaudited financial results for the second quarter ended June 30, 2019. The FHLB expects to file its second quarter 2019 Form 10-Q with the Securities and Exchange Commission on or about August 8, 2019.
The FHLB is a AA+ rated wholesale cooperative bank owned by 643 member financial institutions. The FHLB supports housing finance and community development by lending to a diverse membership base including commercial banks, thrifts, credit unions, insurance companies and community development financial institutions in Kentucky, Ohio and Tennessee. It annually sets aside a portion of its profits for grants supporting affordable housing, and since 1990 has awarded more than $718 million in subsidies towards the creation of approximately 91,000 units of affordable housing.

Operating Results and Profitability
For the second quarter, net income was $64 million and return on average equity (ROE) was 5.09 percent. This compares to net income of $85 million and ROE of 6.15 percent for the same period of 2018. For the first six months of 2019, net income was $137 million and ROE was 5.34 percent, compared to net income of $168 million and ROE of 6.19 percent for the same period of 2018.
Net interest income was lower in both comparison periods primarily due to a decrease in Advance balances and lower spreads earned on Advances. Additionally, non-interest income (loss) was lower in the year-to-date comparison due to decreases in the fair values of certain derivatives and other financial instruments carried at fair value.
Dividend
The FHLB paid its stockholders a cash dividend on June 20, 2019 at a 5.50 percent annualized rate, which is 2.99 percentage points above the second quarter average 3-month LIBOR.
Housing and Community Investment
The FHLB's net income for the first six months of 2019 resulted in an accrual of $16 million to the Affordable Housing Program (AHP) pool of funds available to members. These funds assist members in serving very low-, low-, and moderate-income households and community economic development.
In addition to the required AHP assessment, the FHLB awarded nearly $2.3 million in the first six months of 2019 through its two voluntary housing programs. These programs provide grants to cover accessibility rehabilitation and emergency repairs for special needs and elderly homeowners, and for the replacement or repair of homes damaged or destroyed by natural disasters within the Fifth District.



The following information was filed by Federal Home Loan Bank Of Cincinnati on Monday, July 29, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information Document
Statements Of Capital
Statements Of Cash Flows
Statements Of Comprehensive Income
Statements Of Condition
Statements Of Condition (Parenthetical)
Statements Of Income
Accumulated Other Comprehensive (Loss) Income
Accumulated Other Comprehensive (Loss) Income (Details)
Accumulated Other Comprehensive (Loss) Income (Tables)
Advances
Advances (Advance Redemption Terms) (Details)
Advances (Advances By Interest Rate Payment Terms) (Details)
Advances (Advances By Year Of Contractual Maturity Or Next Put/Convert Date For Putable/Convertible Advances) (Details)
Advances (Borrowers Holding Five Percent Or More Of Total Advances) (Details)
Advances (Year Of Contractual Maturity Or Next Call Date) (Details)
Advances Advances (Tables)
Affordable Housing Program (Ahp)
Affordable Housing Program (Ahp) (Details)
Affordable Housing Program (Ahp) (Tables)
Allowance For Credit Losses
Allowance For Credit Losses (Details)
Allowance For Credit Losses (Tables)
Allowance For Credit Losses Narrative (Details)
Allowance For Credit Losses Rollforward Of Lra (Details)
Allowance For Credit Losses Schedule Of Loans Outstanding And Past Due (Details)
Available-For-Sale Securities
Available-For-Sale Securities (Tables)
Available-For-Sale Securities Contractual Maturity (Details)
Available-For-Sale Securities Interest Rate Payment Terms (Details)
Available-For-Sale Securities Major Security Type (Details)
Available-For-Sale Securities Narrative (Details)
Background Information
Background Information (Details)
Basis Of Presentation (Notes)
Capital
Capital (Details)
Capital (Mandatorily Redeemable Capital Stock By Contractual Year Of Redemption) (Details)
Capital (Mandatorily Redeemable Capital Stock) (Details)
Capital (Tables)
Capital Narrative (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Commitments And Contingencies (Tables)
Consolidated Obligations
Consolidated Obligations (Details)
Consolidated Obligations (Tables)
Deposits
Deposits (Tables)
Deposits Deposits (Details)
Derivatives And Hedging Activities
Derivatives And Hedging Activities (Tables)
Derivatives And Hedging Activities Derivative Fair Value Hedges (Details)
Derivatives And Hedging Activities Derivatives In Statement Of Condition (Details)
Derivatives And Hedging Activities Derivatives In Statement Of Income (Details)
Derivatives And Hedging Activities Derivatives In Statement Of Income And Impact On Interest (Details)
Derivatives And Hedging Activities Offsetting Of Derivative Assets And Derivative Liabilities (Details)
Fair Value Disclosures
Fair Value Disclosures Fair Value (Tables)
Fair Value Disclosures Fair Value Difference Between Fair Value And Remaining Contractual Principal Balance Outstanding (Details)
Fair Value Disclosures Fair Value Impact On Financial Performance (Details)
Fair Value Disclosures Fair Value Measured On A Recurring Basis (Details)
Fair Value Disclosures Fair Value Summary (Details)
Held-To-Maturity Securities
Held-To-Maturity Securities (Continuous Unrealized Loss Position) (Details)
Held-To-Maturity Securities (Contractual Maturity) (Details)
Held-To-Maturity Securities (Interest Rate Payment Terms) (Details)
Held-To-Maturity Securities (Major Security Types) (Details)
Held-To-Maturity Securities (Net Premuims) (Details)
Held-To-Maturity Securities (Tables)
Held-To-Maturity Securities Narrative (Details)
Mortgage Loans Held For Portfolio
Mortgage Loans Held For Portfolio (Details 2)
Mortgage Loans Held For Portfolio (Details)
Mortgage Loans Held For Portfolio (Tables)
Other-Than-Temporary Impairment Analysis
Pension And Postretirement Benefit Plans
Pension And Postretirement Benefit Plans (Tables)
Pension And Postretirement Benefit Plans Narrative (Details)
Pension And Postretirement Benefit Plans Net Periodic Benefit Cost (Details)
Recently Issued Accounting Standards And Interpretations
Recently Issued Accounting Standards And Interpretations (Policies)
Recently Issued Accounting Standards And Interpretations Narrative (Details)
Segment Information
Segment Information (Tables)
Segment Information Asset Balances (Details)
Segment Information Financial Performance (Details)
Trading Securities
Trading Securities (Net (Losses) Gains On Trading Securities) (Details)
Trading Securities (Tables)
Trading Securities (Trading Securities By Major Type) (Details)
Transactions With Other Fhlbanks
Transactions With Other Fhlbanks (Details)
Transactions With Other Fhlbanks (Tables)
Transactions With Stockholders
Transactions With Stockholders (Concentrations) (Details)
Transactions With Stockholders (Details)
Transactions With Stockholders (Tables)
CIK: 1326771
Form Type: 10-Q Quarterly Report
Accession Number: 0001326771-19-000035
Submitted to the SEC: Thu Aug 08 2019 12:19:15 PM EST
Accepted by the SEC: Thu Aug 08 2019
Period: Sunday, June 30, 2019
Industry: Federal And Federally Sponsored Credit Agencies

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